SNAG vs. QLD

Last updated Jul 11, 2026

SNAG (Leverage Shares 2X Long SNAP Daily ETF) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds - SNAG tracks the Snap Inc. (SNAP) while QLD tracks the NASDAQ-100 Index (200%). Both are passively managed. At a 0.43 correlation, their price movements are largely independent. SNAG charges 0.75%/yr vs 0.95%/yr for QLD.

Performance

SNAG vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long SNAP Daily ETF (SNAG) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNAG achieves a -74.12% return, which is significantly lower than QLD's 33.19% return.

SNAG

• 1D: 0.37%
• 1M: -23.68%
• 6M: -74.71%
• YTD: -74.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLD

• 1D: 0.60%
• 1M: 0.41%
• 6M: 28.22%
• YTD: 33.19%
• 1Y: 58.38%
• 3Y*: 43.63%
• 5Y*: 20.57%
• 10Y*: 34.88%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SNAG vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025
SNAG Leverage Shares 2X Long SNAP Daily ETF	-74.12%	9.86%
QLD ProShares Ultra QQQ	33.19%	4.68%

Correlation

The correlation between SNAG and QLD is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.43

Return for Risk

SNAG vs. QLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SNAG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QLD

QLD Risk / Return Rank: 55
QLD Sharpe Ratio Rank: 59
QLD Sortino Ratio Rank: 52
QLD Omega Ratio Rank: 53
QLD Calmar Ratio Rank: 57
QLD Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SNAG vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long SNAP Daily ETF (SNAG) and ProShares Ultra QQQ (QLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SNAG	QLD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.57	—
Sortino ratio: Return per unit of downside risk	—	2.06	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.30	—
Martin ratio: Return relative to average drawdown	—	7.57	—

Drawdowns

SNAG vs. QLD - Drawdown Comparison

The maximum SNAG drawdown since its inception was -81.94%, roughly equal to the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for SNAG and QLD.

Drawdown Indicators

	SNAG	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-81.94%	-83.13%	+1.19%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.13%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.68%	—
Current Drawdown Current decline from peak	-78.06%	-6.73%	-71.33%
Average Drawdown Average peak-to-trough decline	-57.72%	-18.12%	-39.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.63%	—

Volatility

Volatility by Period

	SNAG	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	120.09%	36.79%	+83.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	120.09%	45.51%	+74.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.09%	44.82%	+75.27%

SNAG vs. QLD - Expense Ratio Comparison

SNAG has a 0.75% expense ratio, which is lower than QLD's 0.95% expense ratio.

Dividends

SNAG vs. QLD - Dividend Comparison

SNAG has not paid dividends to shareholders, while QLD's dividend yield for the trailing twelve months is around 0.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLD ProShares Ultra QQQ	0.12%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%
SNAG Leverage Shares 2X Long SNAP Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SNAG and QLD in my portfolio?

SNAG and QLD have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SNAG or QLD?

On fees, SNAG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SNAG or QLD?

SNAG is cheaper with a 0.75% expense ratio, compared with 0.95% for QLD.

Which ETF pays a higher dividend yield, SNAG or QLD?

QLD has the higher dividend yield at 0.12%, compared with 0.00% for SNAG.

What is the main difference between SNAG and QLD?

SNAG tracks Snap Inc. (SNAP), while QLD tracks NASDAQ-100 Index (200%). They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for SNAG and 0.95% for QLD.